Type

Units

Min Area

Price Range

1 BR

753 sqft

S$1.5M

2 BR

1109 sqft

S$2.5M – S$2.6M

3 BR

1507 sqft

S$3.5M – S$3.8M

Property Highlights

Condo development with 7 units currently available.
Prices currently range from S$1.5M to S$3.8M.
For Singaporean second property buyers, ABSD applies at 20% of the purchase price, approximately S$300K on this acquisition.
Located 5 min (400 m) from EW15 Tanjong Pagar MRT Station.

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Altez: A Modern Residence in Tanjong Pagar's Dynamic Precinct

Altez stands as a contemporary residential offering positioned in one of Singapore's most established and commercially vibrant localities. Situated at 16 Enggor Street, the development commands a strategic address within the Tanjong Pagar area, a district renowned for its blend of heritage character, thriving food and beverage culture, and proximity to Singapore's financial epicentre. The location has consistently attracted both owner-occupiers and investment-focused purchasers seeking exposure to a neighbourhood with proven long-term capital appreciation potential.

The development's most compelling advantage lies in its proximity to Tanjong Pagar MRT Station (EW15), located merely 400 metres away—approximately a five-minute walk. This exceptional transport connectivity positions residents within easy reach of the entire East-West Line network, facilitating seamless commutes to employment hubs across the island. The station's accessibility dramatically enhances the neighbourhood's appeal, particularly for working professionals and those seeking efficient access to Singapore's central business corridors.

Strategic Location and Urban Connectivity

Enggor Street itself occupies a unique position within Singapore's urban landscape. The street has undergone considerable evolution in recent years, transitioning into a mixed-use precinct that attracts young professionals, entrepreneurs, and established residents alike. This demographic diversity underpins steady rental demand and capital growth, making the area particularly attractive to those viewing their purchase as both a personal residence and a long-term investment vehicle. The walkable street-level environment, characterised by cafés, retail establishments, and cultural venues, enhances the overall living experience and contributes to the locality's desirability.

Proximity to the MRT station extends far beyond mere convenience. Properties within this catchment benefit from structural support for valuations, as transport-linked locations consistently outperform their car-dependent counterparts in Singapore's competitive real estate market. The East-West Line, serving the full breadth of the island, ensures that residents maintain flexibility in employment location and lifestyle choices—factors that reinforce demand and support price stability through market cycles.

Design and Unit Composition

Altez's unit mix encompasses thoughtfully proportioned residences designed to accommodate diverse buyer profiles. The development offers configurations ranging from compact one-bedroom apartments through to larger formats, with internal layouts that maximise functional living space. Unit sizes typically hover around 750 square feet, positioning them within an efficient scale that appeals to first-time buyers, downsizers, and investors seeking rental-friendly floor plans with strong yield characteristics. This diversity of offerings ensures that the development attracts a broad buyer cohort rather than serving a single demographic segment.

The architectural execution reflects contemporary design principles, with finishes and materials selected to align with modern expectations of quality and durability. Internal specifications support practical daily living whilst maintaining aesthetic coherence with the development's overall identity. For investors particularly, the consistency of unit specifications across the development simplifies valuation assessment and rental positioning, providing transparency and predictability in portfolio management.

Market Position and Investment Perspective

Altez's pricing trajectory positions the development competitively within the Tanjong Pagar market. Units are available from approximately S$1.5 million, a price point that reflects the locality's premium position whilst remaining accessible to established upgraders and serious investors building exposure to the district. This price positioning sits within the mid-to-premium segment for the area, reflecting the development's connectivity advantages and location credentials without commanding the highest premiums associated with flagship trophy properties.

For investors evaluating the development, rental yield prospects merit careful consideration. The proximity to Tanjong Pagar MRT, combined with the neighbourhood's established appeal to young professionals and expatriate populations, supports sustained rental demand. The catchment benefits from limited new supply in the immediate vicinity, a factor that underpins rental rate stability. Properties in this precinct have historically demonstrated rental yields in the 2.5% to 3.5% range depending on lease length and unit configuration, though individual outcomes vary based on purchase timing, unit selection, and broader market conditions.

Capital Appreciation Dynamics and Transport Premium

The Tanjong Pagar locality has demonstrated consistent capital appreciation over the past decade, with properties in this precinct consistently outperforming broader market indices. This outperformance stems partly from the MRT connectivity factor—Singapore investors and owner-occupiers consistently pay a quantifiable premium for properties within walking distance of mass rapid transit stations, a factor that underpins price growth and demand resilience. The five-minute walk to EW15 places Altez squarely within the optimal transport premium zone, enhancing its appeal across economic cycles.

Looking forward, transport infrastructure improvements planned across the broader East-West Line corridor should reinforce the station's status and bolster surrounding property values. Additionally, the established nature of Tanjong Pagar as a residential neighbourhood—distinct from purely commercial districts—provides foundation for sustained amenity investment and community development, factors that support long-term value creation.

Suitability Across Buyer Profiles

Altez addresses multiple buyer cohorts effectively. For first-time purchasers entering Singapore's property market, the development offers an accessible entry point into an established, transport-connected neighbourhood with transparent fundamentals and growth prospects. For upgraders seeking to right-size their portfolio or reposition within the city, the location and scale provide flexibility and liquidity advantages. For high-net-worth individuals and serious investors, the combination of transport connectivity, established neighbourhood credentials, and rental demand potential supports portfolio construction objectives. Each cohort finds distinct value propositions within the development's offerings.

Financing and Purchasing Considerations

Prospective purchasers must account for financing headroom when budgeting for acquisition. At the development's current price points, most mortgageable loans will require buyers to meet Total Debt Service Ratio (TDSR) requirements, with lenders typically permitting debt servicing up to 60% of gross monthly income. This framework means that at Altez's mid-range prices, owner-occupiers should ensure sufficient income buffer to accommodate both the mortgage and existing liabilities. For those purchasing as a second residential property, Additional Buyer's Stamp Duty (ABSD) applies at 20% of the property's purchase price for Singapore Citizen purchasers, a significant cost component that must be factored into total acquisition expense.

First-time purchasers benefit from ABSD exemption, a substantial advantage that improves affordability for this cohort. Property-related financing has tightened in recent years, with stricter valuation methodologies and lending criteria now standard across the banking sector. This environment necessitates careful pre-purchase financial planning and engagement with mortgage specialists to ensure that purchase plans remain viable across a range of market scenarios.

Lease Structure and Long-Term Value Considerations

Understanding the lease structure underpins informed purchasing decisions. Properties held under 99-year leases depreciate in value over time as the lease matures, a dynamic that accelerates markedly as the tenure falls below 70 years. This lease decay risk requires particular attention from investors planning medium-to-long holding periods. Conversely, properties acquired with longer lease tenures benefit from stronger value retention and enhanced refinancing potential later in the ownership cycle. Prospective buyers should explicitly confirm lease tenure with vendors and factor residual lease length into valuation models, as lease duration remains one of the most material variables affecting property value in Singapore's market.

Competitive Context and Market Supply

The Tanjong Pagar locality has experienced measured supply growth in recent years, with several new-launch and resale projects competing for buyer attention. Altez's competitive positioning reflects its transport accessibility, refined unit specifications, and established location credibility. The broader district benefits from limited acquisition of new land parcels suitable for large-scale residential development, a supply constraint that underpins long-term demand resilience. Whilst newer entrants to the market may capture marketing attention, Altez's combination of location fundamentals, connectivity, and pricing provides substantive value propositions independent of transient marketing cycles.

Buyers evaluating Altez should benchmark against comparable recent transactions in the locality to assess value positioning. Price per square foot for properties in the Tanjong Pagar precinct has historically ranged from S$2,200 to S$2,600 depending on property age, lease length, and unit configuration. This comparative framework provides context for evaluating individual unit pricing and supports informed negotiation.

Conclusion: A Compelling Urban Residence

Altez represents a considered residential offering for those seeking contemporary living in one of Singapore's most established and dynamically evolving neighbourhoods. The combination of MRT proximity, neighbourhood character, investment fundamentals, and accessible pricing positions the development as a credible option across multiple buyer scenarios. Whether purchased as a primary residence, investment vehicle, or portfolio diversification, Altez merits serious consideration by those with a strategic interest in the Tanjong Pagar precinct and the broader central Singapore residential market.

Frequently Asked Questions

What rental yield can investors realistically expect from purchasing a unit at Altez?

Rental yield at Altez is influenced by the development's strong location fundamentals and proximity to Tanjong Pagar MRT, which drives consistent tenant demand from young professionals and expatriates in the area. Historical data for comparable properties in the Tanjong Pagar precinct suggests gross rental yields typically range between 2.5% and 3.5% annually, though outcomes vary significantly based on lease tenure, unit configuration, and market timing at purchase. Investors should note that 99-year leasehold properties will experience yield compression as the lease matures, particularly after the 30-year mark, making lease length a critical variable in long-term return calculations. Engaging a property manager familiar with the Tanjong Pagar rental market is advisable to optimise rental pricing and tenant quality.

How does Altez's price per square foot compare to recent market transactions in Tanjong Pagar?

Recent resale and new-launch transactions in the Tanjong Pagar locality have established a price-per-square-foot range typically spanning S$2,200 to S$2,600, depending on property age, lease tenure, and unit specifications. Altez's pricing sits within this established range, reflecting the development's contemporary design, MRT proximity, and location credentials. Properties with longer lease tenures (999 years or freehold) command premiums at the upper end of this range, whilst those with 99-year tenures trade toward the lower end. Prospective buyers should calculate the per-square-foot value of individual units within Altez against this benchmark to assess whether pricing aligns with current market standards and represents value relative to competing offerings in the district.

What is the Additional Buyer's Stamp Duty impact on second-property purchases at Altez?

Singapore Citizen purchasers acquiring Altez as a second residential property face Additional Buyer's Stamp Duty (ABSD) of 20%, calculated on the purchase price of the property. For a property purchased at S$1.5 million, ABSD would total S$300,000—a substantial cost component that materially affects overall acquisition expenses and must be factored into purchase budgeting. First-time purchasers benefit from complete ABSD exemption, a significant advantage that improves affordability for this cohort. Permanent Residents and foreign purchasers face higher ABSD rates and additional restrictions on property acquisition, making Singapore Citizen status a material advantage in the purchasing calculus. Buyers should engage a conveyancing lawyer to confirm ABSD applicability to their specific circumstances and factor the full ABSD liability into financial planning before proceeding with offers.

What lease decay risks should buyers understand if purchasing a 99-year leasehold unit at Altez?

Properties held under 99-year leases experience measurable value deterioration as the lease matures, with depreciation accelerating significantly once the residual lease falls below 70 years. This dynamic reflects both market psychology and practical financing constraints, as lenders typically become reluctant to finance properties with leases below 60-70 years, effectively restricting the buyer pool and suppressing prices. For investors with medium-to-long holding periods (15+ years), lease decay represents a material headwind to capital appreciation, potentially offsetting rental income gains accumulated over the ownership cycle. First-time buyers should confirm lease tenure explicitly and factor residual lease length into valuation models, treating lease maturity as a critical variable equal in importance to location and unit specifications. Buyers with longer investment horizons should prioritise properties with longer lease tenures or consider freehold alternatives where available.

How does the 5-minute walk to Tanjong Pagar MRT enhance Altez's long-term capital appreciation potential?

Proximity to mass rapid transit stations consistently generates quantifiable price premiums in Singapore's property market, with properties within a five-minute walk commanding valuations 10-15% higher than comparable properties located further afield. This transport premium reflects both immediate convenience for commuters and broader structural demand, as access to the MRT network supports property values across economic cycles and life-stage transitions. Tanjong Pagar MRT (EW15) provides full East-West Line connectivity, facilitating efficient commutes to employment hubs across the island and enhancing the location's appeal to working professionals—a demographic cohort with strong purchasing power and consistent housing demand. Future infrastructure improvements planned for the East-West Line corridor should reinforce the station's status and continue to support capital appreciation, making transport accessibility one of the most reliable long-term value drivers for properties in this precinct.

Is Altez suitable for first-time property buyers, or better targeted at experienced investors?

Altez addresses both first-time buyers and experienced investors effectively, though each cohort benefits from distinct advantages. First-time purchasers appreciate the development's accessible entry price point into an established neighbourhood, combined with ABSD exemption and straightforward financing structures that improve affordability relative to second-property acquisition. For upgraders and investors, the combination of MRT connectivity, proven neighbourhood growth fundamentals, and consistent rental demand supports portfolio construction objectives and capital appreciation prospects. The development's diverse unit mix—ranging from compact one-bedroom configurations through larger formats—accommodates varied household sizes and investment strategies, ensuring that both owner-occupiers seeking primary residences and portfolio builders find suitable options. Buyers of any experience level should ensure that purchase decisions align with individual financial capacity, investment timeline, and risk tolerance rather than relying on property type alone to guide acquisition choices.

What TDSR headroom should I calculate when financing an Altez unit, and how does this affect purchasing power?

Total Debt Service Ratio (TDSR) constraints limit borrowing capacity to 60% of gross monthly income under current regulatory framework, a ceiling that encompasses both the mortgage debt servicing and all other personal liabilities. At Altez's current price points, most purchasers require mortgages substantially exceeding S$1 million, meaning lenders expect borrowers to demonstrate monthly gross income of at least S$2,500-3,000 per unit acquired, depending on existing liabilities and loan tenor selected. Buyers with higher existing debt obligations (car loans, credit card balances, personal loans) face reduced borrowing capacity, potentially necessitating larger down payments to maintain TDSR compliance. First-time buyers should engage a mortgage broker or directly contact lenders to model financing scenarios before committing to offers, ensuring that purchase plans remain viable across varying interest-rate environments. The TDSR framework has tightened materially since 2015, making pre-purchase financial validation essential rather than optional.

How does Altez compare to competing new-launch and resale developments in the Tanjong Pagar precinct?

The Tanjong Pagar locality has seen measured introduction of competing residential projects in recent years, with several new-launch offerings marketed in proximity to Altez. Competitive differentiation typically hinges on transport accessibility, design quality, unit specifications, and pricing positioning rather than location alone. Altez's primary competitive advantage centres on its direct proximity to Tanjong Pagar MRT, which remains the most material value driver across the precinct. Resale properties in the locality offer longer ownership histories and transparent performance track records, providing reference points for valuation and capital appreciation, whilst new-launch developments offer contemporary specifications and potential depreciation benefits relative to newer competitors. Buyers should benchmark Altez against 3-5 competing properties of similar scale, lease tenure, and unit configuration to establish context for price positioning and ensure that individual unit pricing reflects current market standards rather than outlier valuations.

Which unit stacks or floor levels at Altez typically offer the strongest value and rental prospects?

Mid-range floors (approximately 5th-15th storeys, depending on building height) at Altez typically balance premium location benefits with accessibility to common areas and external amenities, positioning these units as favoured by both owner-occupiers and investors. Lower floors command pricing discounts relative to mid-range units but retain strong rental appeal due to easier visitor access and psychological comfort for certain tenant cohorts. Higher floors attract premium pricing reflecting views and perceived prestige, though this premium may not translate directly into enhanced rental yields, particularly in markets where tenant demand is driven by location and connectivity rather than panoramic vistas. First-bedroom units (those located on the eastern or western elevations at development's north or south boundary) benefit from natural light and reduced neighbour proximity, supporting premium valuations and rental appeal. Investors should evaluate individual unit orientation, common area proximity, and floor levels holistically rather than applying blanket preferences, as tenant profiles and valuation drivers vary significantly across the development's configuration.

What future supply pipeline developments might impact the Tanjong Pagar market and Altez's long-term value?

The Tanjong Pagar locality benefits from a relatively constrained land pipeline compared to emerging suburban precincts, as most suitable development sites in the district have been utilised and available land is predominantly held for existing uses. This supply constraint structurally underpins rental demand resilience and capital appreciation prospects, as new competing inventory is unlikely to materially expand the local housing supply in the foreseeable future. The broader Central Business District fringe is experiencing gradual intensification of mixed-use development, with conversion of heritage shophouses into office-residential hybrid spaces altering the precinct's character while supporting its economic vibrancy and amenity offerings. Singapore's long-term urban planning framework anticipates modest population growth in established central precincts, supporting sustained demand for housing in the Tanjong Pagar area. Buyers should monitor planning announcements and gazette notices for any developments proposed in the immediate vicinity, as major new supply could influence local market dynamics, though the probability of large-scale new residential launches in this district remains limited relative to growth areas further afield.

[For Sale] Altez — From S$1.5M